Assume that the average number of daily payments to a lock-box is 200, the average size of the payment is $1,000, the rate of interest per day is 0.02% (i.e., 0.0002), the savings in mail time is 2 days, and the savings in processing time is 1 day. What is the daily return from operating the lock-box?
Which of the following statements concerning zero balance accounts is not correct?
Fedwire is an example of:
For large firms, purchasing securities for even one day generally makes sense, even with transaction costs.
Concentration banking is used to slow down disbursements.
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